West Wilshire Center consists of an 180,000-sf office building and a 55,000-sf medical office building. The office complex is located at 11620 Wilshire Blvd., at the corner of Wilshire and San Vicente Blvd .in the Brentwood section of Los Angeles.
The property is currently undergoing renovation and will have a new look in the second quarter of 2002. Both of the center's office building's exteriors have been newly painted and the lobbies completely redone to include a more contemporary look.
An additional 50,000 sf of office space will become available at the 11620 Wilshire Blvd. location by the fourth quarter of 2002. The Brentwood sub-market has an average overall vacancy rate of 14.6% compared to the entire West Los Angeles district of 20.5%, according to a recent report issued by Wakefield & Cushman for the first quarter of 2002. It has 25 office buildings with a total inventory of 3.2 million sf. Of the sublease space on the market, only 161,191 sf are vacant, giving it a 5% vacancy rate for sublease space. The total vacant space in the Brentwood sub-market is 475,357 sf.
Tenet Healthcare Corp. is a publicly held company that serves as a nationwide provider of healthcare services. Tenet owns or operates 116 acute care hospitals and related businesses serving communities in 17 states. The company, which is headquartered in Santa Barbara, Calif., employs approximately 113,000 people nationwide.
The landlord, Lowe Enterprises Inc., a national real estate investment, development and management firm, was represented by Jeff Pion and Deron White of CB Richard Ellis, and the tenant, Tenet Healthcare Corp., was represented by Greg Johnson of Daum Commercial.
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